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Software and Subscription Services revenue increases 7 % over prior year to $ 37 million , representing 53 % of total revenue Customer demand remains strong with backlog still high despite continuing global supply chain challenges IRVINE , CA , December 21 , 2021 -- CalAmp ( Nasdaq : CAMP ) , a connected intelligence company helping businesses and people track , monitor and recover vital assets with real - time visibility and insights , today reported financial results for its third quarter of fiscal year 2022 ended November 30 , 2021 . ● " As indicated in the business update announcement last month , the ongoing global component shortages have been more pronounced than expected , causing a significant reduction in our shipments during the quarter , " said Jeff Gardner , CalAmp's president and CEO . " We are working closely with our suppliers to source the needed parts , qualify additional components and even redesign certain devices when possible . Despite this challenging situation , we are encouraged with the strong customer demand as evidenced by the consistent high level of customer backlog over the past few quarters as we continue our transformation to a SaaS enterprise . " Third Quarter Fiscal Year 2022 Financial Overview ● ● Cal / Amp CalAmp Reports Third Quarter Fiscal Year 2022 Financial Results ● ● Other Business and Recent Highlights Total revenue decreased 12 % from the prior year quarter to $ 69 million . Software and Subscription Services ( S & SS ) revenue was $ 37 million , which was up 7 % from the prior year quarter and represented 53 % of consolidated revenue . Telematics Products revenue was down 14 % sequentially to $ 32 million as supply chain shortages affected shipments despite continuing strong customer demand . Sales to our largest customer were $ 14 million , up 3 % sequentially . Gross margin was 41 % compared to 40 % in the prior year quarter . GAAP net loss from continuing operations was $ 11 million , or a loss of $ 0.30 per share . Adjusted basis non - GAAP net loss was $ 3 million , or $ 0.08 per diluted share . Adjusted EBITDA was $ 3 million , or 4 % of revenue compared to Adjusted EBITDA of $ 9 million , or 11 % of revenue in the prior year quarter . Total core S & SS subscribers were 1 million , a 3 % increase from the prior quarter , excluding the Automotive Vehicle Finance business . Ended the quarter with $ 91 million in cash and cash equivalents . Announced that our subsidiary , LoJack® España , has partnered with Bipi , an innovative car subscription services company operating in Spain , Italy and France , to equip its multi - brand car fleet with LoJack España's connected car solutions to improve Bipi's customers ' experiences while also allowing it to manage fleet operations more effectively . Announced another partnership with FAIRWAYiQ to provide golf course operators with real - time visibility over gameplay and operations through its connected intelligence solutions at the edge . CalAmp's subsidiary , Tracker Network ( UK ) Limited , launched CalAmp's iOnTM fleet and asset management software in the U.K. to enable commercial fleet operators to track driver behavior and vehicle usage .